Mere Transfer of Real Estate and Construction Business is not Succession of firm, Sale Consideration not subject to Capital Gains: ITAT [Read Order]

Mere Transfer - Real Estate - Construction Business - Sale Consideration - Capital Gains - ITAT - taxscan

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that the mere transfer of  real estate and construction business  is not a case of succession of the firm by a company rather a simple case of transfer of a certain line of business on slump sale basis. Thus the assessee is a transferee…

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